Dollar Continues Drop Against Mark

The dollar continued a steep slide against the mark in light, nervous trading Friday, undercut by expectations of higher German interest rates and anxiety over unsettled U.S. financial markets.

In late New York trading, the dollar had fallen to 1.8168 marks from 1.8382 on Thursday, a drop of more than 2 pfennigs. Since reaching a nearly eight-year high of 1.8832 marks during trading Aug. 5, the dollar has now dropped about 3.5 percent against the mark.

But the dollar still is almost 18 percent higher than when it ended last year at 1.5415 marks.

The dollar also fell against most other leading currencies Friday, including the British pound, which strengthened to $1.6093 in late New York trading from $1.5935 Thursday.